THE AUTO INDUSTRY IS AMERICA'S LARGEST EXPORTER
Automakers and their suppliers are America’s largest exporters, beating the next best-performing industry by nearly $36 billion in exports over the past ten years.
Top Five U.S. Exporters by Industry (2018, in billions)
The automotive sector represents the nation’s No. 1 export industry and is responsible for driving job creation and economic growth across the country. The U.S. automotive sector has seen its exports rise by 76% since 2009.
Each year, Ford, General Motors and Stellantis export about 1 million American-made vehicles to more than 100 different foreign markets. This is further evidence of the economic significance of U.S. exports to job creation.
Increased exports have far reaching impacts on the economy overall. Ford, General Motors and Stellantis produce more of their vehicles, buy more of their parts, conduct more of their research and base more of their workers in the United States than their competitors. These differences represent billions of dollars in investment and purchases, representing millions of American jobs.
Automaker and Supplier Exports (in billions)
The U.S. automotive sector has seen its exports rise by 76% since 2009.
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Foreign Cars Made in America: Where Does the Money Go?
Shoppers who want to buy American cars have a relatively easy job, provided that their definition of an American car is one that's assembled in the U.S.A., of mainly domestic parts. They can consult a new car's window sticker for a quick rundown on the percentage of domestic content and the country and state in which the car was were assembled, posted to comply with the American Automobile Labeling Act (AALA). The first letter or digit of the car's vehicle identification number (VIN) confirms where the car was built. Cars assembled in the U.S. start with a 1, 4 or 5, for example.
But some car shoppers want to know more than just where a car was assembled, particularly if that "American" car comes from a foreign carmaker, such as BMW, Honda or Toyota. They want to know if purchasing a foreign car that's made in America will support the U.S. economy. Where does the money from that American car wind up? Does it stay in the U.S., or does it go back to the carmaker's home country?
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Successful Fiat 500 by Gucci Edition Returns to America
June 11, 2013 , Auburn Hills, Mich. - The Fiat 500 and 500c by Gucci Edition, the perfect combination of Italian craftsmanship and style in a small car, brings two of Italy's most respected brands together for an encore. The new limited-edition 2013 Fiat 500 and 500c Gucci Edition models will return to America with a new discrete appearance inside and out while continuing to meet the popularity and market demand of the previous edition.
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House majority urges Obama to address currency manipulation
Washington More than half of U.S. House members wrote President Barack Obama on Thursday, urging him to address currency manipulation as part of talks to create a 12-nation free-trade zone called the Trans-Pacific Partnership.